New Employee Orientation
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NEW EMPLOYEE ORIENTATION Wharton Human Resources Don Huesman/ Innovation Group The History & Mission of the Wharton School New Employee Orientation WHARTON’S MISSION Joseph Wharton PENN’S MISSION: THE AMERICAN EXPERIMENT Joseph Wharton “to impart a liberal education in all matters concerning finance and economy." PRACTICE & THE ACADEMY Henry Carey Robert Thompson Prof. Albert Bolles Frederick Taylor Edmund James Director, Wharton School Of Finance & Economy PENN’S UNDERGRADUATE CLASS OF 1884 Among the class of 1884, the first five Wharton graduates, Shiro Shiba, future member of Japanese Diet and Robert Adams, US Congressman and future US Ambassador to Brazil 6 WHARTON’S MEN “(Our students should be) of superior inheritance or promise, either of money, of vigor, of health, of mental equipment, or of family, social or political influence [who would be] more apt to be given or to secure positions of executive responsibility in later life than those without these advantages” THE “PROGRESSIVE” FACULTY & ACADEMIC FREEDOM THE BUSINESS PROFESSIONS AFTER “THE GREAT WAR” Solomon Huebner, Emory Johnson, life Insurance and transportation research, human capital theory and the Panama Canal. Edward Mead, accounting and the CPA A PASSION FOR DATA Professor Joseph Willets, creates first business school research center – Industrial Research Unit 1921. Paul Green, reinvents market research with conjoint analysis, 1960’s. Simon Kuznets, Nobel recipient, statistical measures of economic activity, GDP Lawrence Klein, Nobel prize for work on econometrics, 1980. RESEARCH CENTERS A DIVERSITY OF VOICES W.E.B. Dubois, Wharton fellowship, 1899, documents conditions of urban blacks. Frances Perkins, Wharton alumna, FDR’s Secretary of Labor & first female US Cabinet member, 1932 Dorothy Swain Thomas, first female Wharton professor, 1946 LOGAN HALL 13 DIETRICH HALL, 1952 – VANCE HALL, 14 WHARTON TODAY 15 KNOWLEDGE FOR ACTION endoscopic surgery in vitro fertilization nursing the teaching hospital the vet school dental the American Medical Association positron emission tomography collective bargaining econometrics GDP decision science the business school life insurance business ethics curriculum arts & sciences conjoint analysis engineering design communications the general-purpose bioengineering electronic computer the law school public policy the US Presidency education THE AMERICAN EXPERIMENT: NOW IT BELONGS TO THE WORLD More than 4,800 undergraduate, MBA, Exec. MBA and Ph.D students from over 100 countries 10,000+ Exec Ed annual participants 90,000+ alumni in 145 countries 250 standing and associate faculty 600+ regular full/part-time staff KNOWLEDGE FOR GLOBAL IMPACT What I see so vividly now is the unparalleled breadth and depth of world-leading talent at Wharton—among our faculty and staff, students and alumni—coupled with an innate and unique entrepreneurialism in the DNA of the place and everyone associated with it. October 27, 2014 6/21/ 18 2016 MBA Program An Introduction Maryellen Reilly Deputy Vice Dean, MBA Career Management, Admissions & Financial Aid Organizational Chart Howard Kaufold Vice Dean Suzanne Kauffman DePuyt Sr. Director, Strategic Initiatives & Communications Jeff Klein Stephan Kembrel Jones, Maryellen Reilly Lisa Warshaw Dieckmann, Executive Deputy Vice Dean Deputy Vice Dean Deputy Vice Dean Director, Wharton Director, McNulty Communication Leadership Academic Affairs Student Life MBA Career Management, Program Program Admissions & dual report to Financial Aid Mike Useem, Management Dept. MBA Program Experience • Attracting and enrolling students with highest promise and potential • Supporting students in gaining experiences and knowledge to thrive in a complex and changing world • Graduating leaders who have the ability and drive to make an impact Developing Leaders in Business Undergraduate Wharton Life Cycle MBA 515 in incoming class Arrival 855 in incoming class ~18 years age, potential ~28 years age, work experience Penn admissions Wharton admissions 4 Years Life at Wharton 2 Years 2,500 undergrads (10,000 Penn) 1,700 MBAs • 41% women • 41%13% Women dual degrees in MBA • 87 countries • 75 Countries29% dual degrees in UG • 30% dual degree • 13% dual degree Fixed core/liberal arts Fixed and flexible core 20+ concentrations 18 majors Wharton advising Wharton advising Wharton & Penn student organizations Wharton student organizations 642 graduates Departure 831 graduates 92% employed + 3% grad school 95% employed Penn Career Services Wharton Career Management Note: Incoming class and graduating student numbers are from 2015. MBA Student Body 1,708 MBA students (Classes of 2016 & 2017) • 41% women • 31% non-US citizens/residents (75 countries represented) • 13% dual degree Class of 2015 • 855 Graduates • 42% women • 34% non-US citizens/residents • 12% dual degree • Majors: 37% Finance, 30%Management, 23%Entrepreneurial Management, 17%Marketing and Operations, 7%Strategic Management Name of Presentation MBA Class of 2017: Profile Application Volume 6,590 Previous Industry Experience Class Size 861 Consulting 23% Female 43% Private Equity/Venture Capital 10% International Students 32% Investment Banking 11% Countries Represented (including those with dual Government/Military/Non-profit 11% citizenships): 73 Consumer Products/ 10% Retail/Healthcare/Energy US Students of Color 30% Mean years of work 5 years Other Financial Services 7% experience: Technology/Internet/ 6% Work experience range: 0-16 years Ecommerce Mean GMAT overall score: 732 Investment Management 6% GMAT Middle 80% range: 700-770 Real Estate 2% Other 10% Undergraduate Majors Humanities/Social Science/Economics 42% Business 29% STEM (Science, Technology, Engineering, 25% Math) Other 4% Full-Time Employment Statistics 2015* 2014 Job Search Status of Students Seeking Employment Offers Accepted By Industry n % n % 26.4% Consulting 25.9% Investment Banking 14.0% RECEIVED offer 613 98.2% 599 98.2% 14.2% 11.5% Technology… 13.7% Investment… 10.3% 10.3% ACCEPTED offer 591 95.2% 586 96.1% Private… 9.3% 2015 9.0% 2014 7.5% Consumer… 7.5% Starting 6.1% Business/Self- 34 55 Heathcare 5.8% Employed 4.7% Other 3.8% Accepted Offers by Location 3.1% Real Estate 2.2% United States 84.0% 80.6% 2.2% Media &… 2.4% International 16.0% 19.4% 1.9% Social Impact 1.9% Compensation 1.7% Median Base Manufacturing 1.9% $125,000 $125,000 Salary 1.2% Energy 1.7% Median Sign-on $25,000 $25,000 Bonus 0.0% 10.0% 20.0% 30.0% * Preliminary% of Students stats as of 9/14/15 MBA YOY Full-Time Employment Statistics Offers Accepted By Industry 26.3% Consulting 29.1% 2015 2010 2005 26.1% Students 14.0% Investment Banking 20.6% seeking 22.2% employment 11.3% with an 98% 88% 94% Technology Industries 5.6% 6.1% offer: Inv. Mgmt/Hedge 10.5% 8.0% Students Funds 9.0% seeking Private Equity/Venture 9.3% employment 7.8% accepted an 95% 86% 93% Capital 7.6% offer: Consumer 7.4% 5.8% Full-Time Offers Accepted by Location Goods/Retail 5.6% 6.1% United States 85% 76% 83% Heathcare 7.0% 6.7% 2015 4.8% International 16% 24% 16% Other 4.9% 2010 6.1% Median Full-Time Compensation 2005 3.0% Real Estate 2.7% Median Base 3.5% Salary $125,000 $110,000 $100,000 2.5% (annual) Media & Entertainment 2.0% 1.9% Median Sign- $25,000 $20,000 $20,000 2.0% on Bonus Social Impact 1.7% 1.1% Not Seeking Employment 1.7% Manufacturing 2.4% Starting 36 30 9 2.4% Business 1.2% Energy 2.0% Sponsored 95 61 23 0.8% 0.0% 10.0%20.0%30.0%40.0% % of Students WG16 Career Preference by Geography Global Preferences Preference within U.S. Middle South Other Southe Midwes Southw Europe East/AfrAmerica 1% ast t est 3% ica 2% 2% 2% 2% Asia 2% 6% West Coast 23% Northea st 46% North Americ a 86% No Prefere nce 25% MBA Placement Top Five Industries 2005 2010 2015 Employed (accepted 26.1% 93% 86% 95% Consulting 29.1% offer) 26.3% Median Full-Time Compensation 22.2% Median Base Salary $100,000 $110,000 $125,000 Investment Banking 20.6% (annual) 14.0% Median Sign-on Bonus $20,000 $20,000 $25,000 6.1% Technology Industries 5.6% 11.3% Class of 2015 Top MBA Majors: 9.0% Inv. Mgmt/Hedge Funds 8.0% • 37% Finance 10.5% • 30% Management Private Equity/Venture 7.6% 7.8% • 23% Entrepreneurial Management Capital 9.3% • 17% Marketing and Operations 0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0% • 7% Strategic Management % of Students 2005 2010 MBA Program Follow Wharton on Social Media to learn more! KNOWLEDGE FOR ACTION New Employee Orientation Additional Slides from Overseers Meeting Name of Presentation MBA YOY Full-Time Employment Statistics 2015 2010 Offers Accepted By Industry Students 26.3% seeking Consulting 29.1% employment 98% 88% Investment… 14.0% with an offer: 20.6% 11.3% Students Technology… 5.6% seeking 10.5% employment Inv.… 8.0% accepted an 95% 86% 9.3% offer: Private… 7.8% Full-Time Offers Accepted by Location 7.4% Consumer… 5.8% United States 85% 76% 6.1% Heathcare 7.0% International 16% 24% Other 4.8% 2015 Median Full-Time Compensation 4.9% 2010 Real Estate 3.0% Median Base 2.7% $125,000 $110,000 Salary (annual) 2.5% Media &… 2.0% Median Sign-on $25,000 $20,000 2.0% Bonus Social Impact 1.7% 1.7% Not Seeking Employment Manufacturing 2.4% Starting 1.2% 36 30 Energy 2.0% Business Sponsored 95 61 0.0%10.0%20.0%30.0%40.0% % of Students Undergraduate Division Lori Rosenkopf Vice Dean & Director, Wharton Undergraduate Division Simon and Midge Palley Professor Business and More • 4-year integrated business and arts & sciences curriculum • 40% of the degree requirements are taken outside of Wharton • 20+ business concentrations • Interdisciplinary study, including coordinated dual-degree programs • Teamwork and leadership development Undergraduate Division Undergrad Facts and Figures 2,400 Wharton undergraduates 40% female 21% international 30% pursue more than one degree (College, Engineering, Nursing) 19% pursue a minor 25% study abroad 9 cohorts 45+ student clubs Undergraduate Division UNDERGRADUATE DIVISION Lori Rosenkopf Vice Dean Jonathan Katzenbach Managing Director Scott Romeika Lee Kramer Director Director Academic Affairs Student Life/ & Advising WIP/WIEP Michael Frank De Francis Bethany Schell Meredith Stone Lindy Black- Sr.